# Geopolitical jitters – Corpay Currency Research

> Markets were jittery after Ukraine reportedly fired US and British long-range missiles into Russia and several nations temporarily closed embassies in Ukraine. Hawkish central bank signals trimmed rate cut bets for the BoE, ECB and Fed. The USD gained support from the mix of geopolitical and macro signals.

- Date: 2024-11-20 · published 2024-11-20T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude low
- Page: https://feedsoft.ai/events/27663-geopolitical-jitters-corpay-currency-research
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Escalation in the Russia-Ukraine conflict raises risk to Black Sea grain and oilseed logistics and can lift energy and fertiliser prices. A firmer USD weighs on dollar-priced commodities.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-01-25 | [FX Daily: Geopolitical risk starts to take its toll in FX \| ING THINK](https://feedsoft.ai/events/12225-fx-daily-geopolitical-risk-starts-to-take-its-toll-in-fx-ing-think.md) | -2.1% | -0.8% |
| WHEAT | 2024-10-01 | [U.S. grains: Wheat rallies on drought, geopolitical tensions; corn follows \| Farmtario](https://feedsoft.ai/events/27910-u-s-grains-wheat-rallies-on-drought-geopolitical-tensions-corn-follows-farmtario.md) | -5.0% | -6.5% |
| WHEAT | 2023-07-17 | [Black Sea grain deal expires after Russia quits \| Reuters](https://feedsoft.ai/events/7057-black-sea-grain-deal-expires-after-russia-quits-reuters.md) | +2.4% | +2.8% |
| WHEAT | 2026-03-10 | [Russia resumes grain exports to Iran via Caspian Sea, sources say   \| Reuters](https://feedsoft.ai/events/14132-russia-resumes-grain-exports-to-iran-via-caspian-sea-sources-say-reuters.md) | -1.3% | -1.1% |
| WHEAT | 2022-05-06 | [Nearly 25 million tonnes of grain stuck in Ukraine, says UN food agency \| Reuters](https://feedsoft.ai/events/41445-nearly-25-million-tonnes-of-grain-stuck-in-ukraine-says-un-food-agency-reuters.md) | +0.3% | +0.1% |
| CORN | 2022-01-25 | [FX Daily: Geopolitical risk starts to take its toll in FX \| ING THINK](https://feedsoft.ai/events/12225-fx-daily-geopolitical-risk-starts-to-take-its-toll-in-fx-ing-think.md) | +2.6% | +7.9% |
| CORN | 2024-10-01 | [U.S. grains: Wheat rallies on drought, geopolitical tensions; corn follows \| Farmtario](https://feedsoft.ai/events/27910-u-s-grains-wheat-rallies-on-drought-geopolitical-tensions-corn-follows-farmtario.md) | +0.2% | -2.4% |
| CORN | 2022-05-25 | [China clears way for Brazilian corn imports to fill Ukraine gap \| Reuters](https://feedsoft.ai/events/14931-china-clears-way-for-brazilian-corn-imports-to-fill-ukraine-gap-reuters.md) | -2.8% | -3.7% |

## Sources

- corpaycurrencyresearch.com: https://corpaycurrencyresearch.com/geopolitical-jitters/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.